Maharashtra State BoardHSC Commerce 12th Board Exam
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Give Word / Term Or Phrase for the Following Statement. a Person on Whom a Bill of Exchange is Drawn. - Book Keeping and Accountancy

One Word Answer

Give word / term or phrase for the following statement.
A person on whom a bill of exchange is drawn.

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Solution

Drawee
Explanation: The person on whom the bill is drawn, and who is required to pay the amount mentioned in the bill, is called drawee. He is the purchaser or the debtor and is liable to make payment to the drawer.

Concept: Parties to the Bill of Exchange
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APPEARS IN

Micheal Vaz Accounts - Book Keeping and Accountancy HSC 12th Standard Maharashtra State Board
Chapter 9 Bill of Exchange (Trade Bill)
Exercise | Q 3 | Page 316
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